Research and Markets: This Essential Report on the Medical Device Market in Canada is Now Available

DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/be0fbb/the_medical_device) has announced the addition of the "The Medical Device Market: Canada" report to their offering.

Canada is geographically one of the world?s largest countries, but has a population of just 34.0 million. The population is unevenly spread with 90% of Canadians living near the USA border. The economy is highly developed, and GDP per capita, at US$47,090 in 2010, is on a par with the US or EU.

In 2010, the Canadian Medical market is estimated at US$5.4 billion which, considering the size of the population, makes it one of the world?s richest medical markets. This is a slight contraction of from the 2009 market size, reflecting global economic problems. Much of the market is supplied by imports, largely from the USA. MEDEC the Canadian Trade Association estimates annual revenue from sales to be C$6 billion (US$5.6 billion), including C$3 billion (US$2.8 billion) sales in Ontario. The Canadian economy has grown at 6.1% for the first three months of 2010, and has been much less affected by the global economic crisis. This is because Canada has a more stable and regulated banking sector. Consequently Canada is the only one of the seven major industrialised nations to be expected to return to having a surplus in its economy by 2015 according to the IMF.

Canadian patients have suffered from longer waiting times for treatment. The problem is not helped by the ban on private health insurance in public facilities. From 2009 onwards, C$250 million is being made available annually through a Wait Times Reduction Transfer to address this problem. A December 2009 report found improvement in wait times, with most patients receiving care within the recommended time for the five designated priority areas.

The Canadian medical device industry has strengths in cardiovascular devices, medical imaging, in vitro diagnostics, dental and assistive devices and home healthcare products. There are around 1,500 manufacturers and distributors, employing 35,000 people. The industry is primarily concentrated in Southern Ontario and Quebec.

Health research funding was cut by C$150 million in 2009 and there was no mention of innovation or science in the budget, reflecting the government?s priority on shrinking government deficits for the short term, which may affect Canada?s market share.

In contrast to the USA, Canada?s healthcare system is based on public funding and provision, as in the UK. Expenditure is generally high, at around 11% of GDP in 2009, although inefficiencies remain. Health provision is the responsibility of provincial governments, which often have widely differing targets and priorities.

There is very little private involvement in the hospital sector. Private expenditure tends to concentrate on non-physician specialist services and pharmaceuticals. Around 38% of domestic producers operate in the hospital supplies & equipment sector

Executive Summary

Espicom's in-depth medical device market reports are ideal for executives wanting to understand the key drivers in medical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.

Key Topics Covered:

EXECUTIVE SUMMARY

ACCESSING THE MARKET